Bakkt — Third Quarter 2026 Earnings Summary

Bakkt reported a GAAP net income of $14.3 million for the third quarter of 2026, driven by a $26.8 million non-cash gain on Transchem warrants and a reduction in operating expenses. Total transacting volume for the quarter reached $147.9 million, bringing the nine-month total to $557.9 million, while the company reiterated its full-year 2026 target of $3 billion and established a first-half 2027 target of $6 billion. Monthly active users on payment rails stood at 9,760 in September 2026, with a goal to reach approximately 25,000 by December 2026 as client activations accelerate. The company ended the quarter with $37.3 million in cash and restricted cash, maintaining a balance sheet with no long-term debt.